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Save 25-50% on Group Health Insurance and Employee Benefits. We're located in Newport Beach in Orange County, CA.

Small Business Health Plans

Health insurance companies orange county ca (cut costs)

Health insurance companies orange county ca  – Solana Insurance Services

Hubie Laugharn

5-30-13

Obamacare (PPACA)

I am writing this letter to inform you of some of the changes that are coming starting January, 1 of 2014 because of Obamacare.

All of our information is based on what we know right now and is subject to change.

All the carriers will be changing their plan designs to comply with the mandates of Obamacare. These plans are called the “medal” plans. Bronze, Silver, Gold and Platinum.

The Bronze plan will be the least expensive and the Platinum will be the most expensive.  The Bronze plan will require the individual to pay for 40% of the medical cost up to $6,350, $12,700 for a family and the Platinum plan, 10% of cost up to $4,000/$8,000 family.  California will be implementing their exchange called Covered California.  You will be able to purchase your medal plans in or out of the exchange, however, the exchange is for those individuals and small groups that qualify for financial assistance.
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Affordable Care Act large group (949) 675-1920 Orange County health insurance

Affordable Care Act large group

By Hubie Laugharn

Large Group

PPACA (ObamaCare)

Below is a bullet point list of the most important aspects of the Affordable Care Act for large employer groups over 50 employees.

This is what we know as of 2-18-13

  • Starting Jan. 1, 2014 or a company’s open enrollment for 2014.
  • The Employer Shared Responsibility provisions apply to an employer with 51 or more employees. Employer will be required to offer healthcare insurance to all full-time employees or pay a tax/fine (Pay or Play).
  • Play: an employer must offer a minimum of the Bronze plan and contribute toward the premium of the employee so the employee does not pay more than 9.5% of their wage.  If the employer complies with both the “minimum value” and the “minimum employer’s contribution”  9.5%, the employer cannot be taxed/fined, if an employee goes to the exchange for financial help!
  • Play: Plans must cover minimum benefit package: The “Medal” plans: Bronze, Silver, Gold, and Platinum. Bronze / 60% plan (least expensive) individuals will be responsible for 40% of the medical cost. Silver / 70% plan, the insured will be responsible for 30% of the medical cost. Gold / 80% plan and the Platinum / 90% plan.
  • Pay: if an employer does not offer healthcare insurance and no employee receives assistance from the exchange, there is No Tax/Fine.
  • Pay: if an employer does not offer healthcare insurance but one employee gets assistance from the exchange, the employer will pay $2,000 per employee excluding the first 30 employees.
  • Pay: if the employer offers healthcare insurance, but their plans are not equivalent to the minimum Bronze plan or the premium paid by the employee exceeds 9.5% of their pay, and one employee gets assistance from the exchange, the tax/fine will be $3,000 per employee getting financial help from the exchange. However, the max tax/fine is the lower of the $2,000 or the $3,000 tax/fine.
  • The employer is not taxed/fined for part time employees (29 hrs or less).
  • The max deductible on all plans will be $2,000.
  • HSA health plans will still be able to continue with their high deductibles over $2,000, however, we feel that they may be deemed  “Cadillac” plans and as such, will be taxed 40% starting in 2018. In 2012, the tax for non-prescription drugs was raised from 10% to 20%.
  • Increase medical expense deduction from 7.5% to 10% to employees.
  • W-2 filing is required after Jan. 31, 2013 for companies that issue more than 250 W-2s annually. The amount of the total premium is divided by the total W-2s issued and entered in the appropriate boxes.
  • Must provide notice regarding “Covered California” the name of the exchange in California.
  • Max waiting period may not exceed 90 days. 30-60 day waiting period will have a $400 tax/fine.
  • Incentives for wellness participation increases to 30% from 20% deductions.
  • Special payroll tax of .9% for employees with incomes over $200K.

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Obamacare Tax Penalty “What you need to know.”

 

Obamacare Tax Penalty-” The facts you need to know.”

Solana Insurance Service 949-675-1920

September 2012

Many Americans are furious that Obamacare will require them to buy health insurance.

Most of these folks seem to hate the idea that Obama is forcing them to do something more and they hate the idea of shelling out money.
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Small business group health insurance and employee benefit plans for Southern California

Finally a good trend in small business group health insurance and employee benefit plans for Southern California!

Cut costs by up to 50% while maintaining benefits!

The rising cost of health coverage has impacted the ability of small businesses to offer affordable health coverage to employees.  In general, small businesses may be able to offer health coverage to employees, but they are unable to contribute as much to their employees’ coverage as larger companies.  This is a disturbing trend for public health advocates, as most new jobs being generated come from small businesses.

In the last several years, the subject of small business group health insurance and employee benefit plans has been extremely controversial to say the least.  Should the Government provide it?   Who should get it?  Who should pay for it? The issue is not getting any clearer or less expensive.  Large corporations will always be able to afford very lavish employee benefit packages for their executives, but most small businesses are feeling the squeeze.  Small business owners know a well appointed health care package is likely to add to their company’s appeal and assist in gaining more talented applicants while keeping the current employees happy.  But at what cost?  Staff morale is normally higher when an attractive employee benefit plan is offered, but the employer has to be able to afford it.

For many employers, group health insurance is perhaps the most important fringe benefit they offer because it’s advantageous tax-wise to both employers and employees.  Employers benefit because they get a tax deduction for offering coverage.  Employees benefit because compensation employers provide them with to meet premiums is  not taxed.  Plus the employee if paying or contributing normally pays a lower premium as part of a group.  The insurers are able to provide this coverage at a discount because they’re taking on a pool of insureds that they can spread the risk out among.

Most small business employee benefit plans are currently paid for as if everyone in the group hits their max out of pocket and reaches their deductibles.  However, study after study shows that the actual utilization of the plan is only a small fraction of that, meaning most employees within a group do not utilize their plan.  4-7 % of employees within a group will over utilize their health plan.  The vast majority will hardly ever use their plan.

Solana Insurance Service Employee Benefits and its Third Party Administrator (TPA) offer a way for small business owners to use this concrete fact to dramatically lower their group health insurance premiums and the yearly cost to offer employee benefit plans.

Located in Newport Beach, in the heart of Orange County, Solana Insurance Service Employee Benefits offers its revolutionary service to a steadily growing list of savvy business owners in Northern and Southern California who know that saving money on group health insurance means more money to the bottom line.  By taking a different approach, Solana is able to give small business owners the tools necessary to create a partially self funded plan just like large corporations use.  Solana and its TPA provide the management to reduce risk so that employers can sleep easy knowing that they are well prepared for any mishap that an employee may incur.  With Solana’s employer driven health plan approach, small businesses are able to provide attractive benefit plans for employees while reducing the costs dramatically.  On average, small businesses save 25 to 50% using this method, and  97% of businesses who try this approach since 1996 continue with it year after year.  The simple fact is that it works well and small to medium sized businesses can no longer afford to throw money away year after year.

Small business group health insurance

Call us today to find out more about this exciting new trend in small business group health insurance and employee benefit plans.  Call 949-285-7209 and we’ll give you a 20 minute presentation in your office.  www.employerdrivenhealthplans.com  employerdrivenhealthplans@gmail.com